Government-backed loan helps specialist renovation firm build for the future

August 11, 2021

Bristol-based bespoke renovation specialist Missiato Design and Build is poised for further growth after receiving a £200,000 government-backed loan.

The firm, which also undertakes specialist building projects ranging from new-build homes to loft conversions and landscaping, has expanded rapidly over the past year due to a major increase in home improvement projects – putting pressure on its cashflow. 

It secured the Coronavirus Business Interruption Loan Scheme (CBILS) finance via regional alternative lender SWIG Finance to help it through the growth phase.

Bishopston-based Missiato Design and Build, which employs 20 staff and 15 sub-contractors, is led by Adamo Missiato and Luke Sperring, who have both enjoyed successful careers as skilled tradesmen themselves.

They plan to create more jobs over the coming year, starting with a new administration role to support the business’s growth.

When Adamo and Luke realised they needed external finance, they approached Jack Seymour of Pinnacle Business Finance, who connected them with SWIG, the South West’s leading Community Development Finance Institution (CDFI).

Adamo said: “Due to the nature of our business, our cashflow can be complex. We work on multiple projects simultaneously and our material expense is high, which can skew our profit and loss statement.

“We knew we needed a lender who could look beyond the immediate figures and view the business as a whole, which is what SWIG Finance did.”

Jack Seymour added: “When I initially spoke to Adamo it was evident that he was very ambitious with a clear vision of how he wanted to grow the business.

“SWIG’s CBILS loan was ideal for Missiato so the business could continue to grow whilst fulfilling larger more complex works. As a lender SWIG take a holistic view of their clients and gain a full understanding of the business, which allows them to lend with confidence.

“It is always interesting working with SWIG and I am delighted that, together, we were able to secure the funding that the business required.”

SWIG Finance business manager Jordan Berg worked closely with Adamo, Luke and Jack to secure the funding.

He said: “SWIG Finance exists to serve businesses like Missiato Design and Build – we pride ourselves for being able to lend by looking at the bigger picture.

“Missiato has grown substantially over the last year with the pandemic playing a role in fuelling a surge for home improvement projects. The business has a solid order book for the year ahead and 2021 is set to be a record year for them.”

SWIG Finance provides loans from £500 to £250,000 to South West start-ups and SMEs that cannot access sufficient support from their bank.

Pictured: Adamo Missiato and Luke Sperring of Missiato Design and Build


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